Langkawi, Malaysia: In June last year, the US Justice Department filed a legal action seeking $US540 million ($730 million) in assets it said was bought with money stolen from a Malaysian sovereign wealth fund overseen by the country’s then prime minister, Najib Razak.

Handbags

Nearly 300 boxes of designer handbags and dozens of bags filled with cash and jewellery were found at his home.

Items included Birkin handbags from the luxury goods maker Hermes, each worth up to hundreds of thousands of dollars.

Najib said most were gifts given to his wife and daughter and had nothing to do with 1MDB.

“Yes these were gifts, particularly with my daughter’s they were tagged, they were actually labelled: when, by whom,” adding that a lot of them were wedding presents.

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Najib said his son-in-law Daniyar Nazarbayev, the nephew of Kazakhstan President Nursultan Nazarbayev, also gifted many of the handbags to his wife, Rosmah Mansor.

"People might find it hard to understand, but my son-in-law for example, he gets Birkin from his source, five or six at one go," he said.

"His family has got some means, so it has nothing to do with 1MDB if it comes from Kazakhstan."

Cash

Authorities found 114 million ringgit, or $38.2 million at his family home in Kuala Lumpur.

Najib claimed these were party funds belonging to the United Malays National Organisation, of which he was president until he stepped down shortly after the poll. UMNO was part of the Barisan Nasional coalition that lost the election.

Global president of Christie's, Jussi Pylkkanen, right, taps the gavel on the podium for the final sale at $75 million of Claude Monet's "Nympheas en fleur" during an auction from the collection of Peggy and David Rockefeller on May 8.Credit:AP

Cash of 25.2 million euros ($35.5 million) was also in a Swiss account from the sale of Claude Monet's painting "Nympheas".

$US681 million was transferred into his personal bank account.

Najib said this was a donation from Saudi Arabia, and not as US lawsuits have alleged misappropriated funds from 1MDB. Najib said he had been given assurances from the late Saudi King Abdullah bin Abdulaziz al-Saud that Saudi Arabia would be sending a donation.

"All I knew, I accepted at face value that this is coming from the Saudis, from King Abdullah at his behest, at his instruction," Najib said.

Najib said he had no knowledge of any transactions involving his personal account, as he had appointed Nik Faisal Ariff Kamil, the director of SRC International, a former 1MDB unit, to manage it.

Also alleged to belong to him by the Department of Justice were an 11.72-carat hearth-shaped diamond; an 8.88-carat intense pink diamond pendant surrounded by 11-carat fancy intense pink diamonds; an 18-carat white gold diamond jewellery set including diamond necklace, diamond earring, diamond bracelet and diamond ring; 11-carat diamond earrings; another matching diamond ring and earrings. The value was more than $US200 million.

Former Malaysian prime minister Najib Razak arrives at a court house in Kuala Lumpur on Wednesday.Credit:AP

Najib said this jewellery set was also meant to be a gift for his wife but she never received it.

"And until today we do not know ... she says the item is not in her possession," Najib said.

Art

A Pablo Picasso painting entitled "Nature Morte au Crane de Taureau"; a collage entitled "Redman One" by Jean-Michel Basquiat; a photograph entitled "Boy with the Toy Hand Grenade" by Diane Arbus; One framed, three-sheet colour lithograph poster created by the German artist Heinz Shulz-Neudamm for the 1927 silent film "Metropolis", a pen and ink drawing by Vincent Van Gogh titled "La maison de Vincent a Arles", a painting by Claude Monet, "Saint-Georges Majeur".

Yacht

The rights and title to the yacht, Equanimity, worth $US265 million.

A luxury yacht named "Equanimity" is seen in the Benoa harbour in Bali.Credit:AP

Shares

2.5 million shares in Palantir Technologies, Shares in Electrum Group.

Movie and music rights

Rights to Dumb and Dumber To, including copyright and intellectual property rights, as well as the right to collect and receive any profits and royalties. Rights to Daddy's Home, and The Wolf of Wall Street.

Rights to profits, royalties an distribution proceeds in EMI Music Publishing Group

Property

One Madison Park Condominium, the Viceroy L'Ermitage Beverly Hills hotel, properties in Hillcrest, Beverly Hills, the Park Laurel condominium in New York City, the Time Warner Penthouse in New York, The Oriole Mansion in Los Angeles, the Greene Condominium in New York, Symphony CP Park Lane, New York City, Walker Tower Penthouse, New York, Laurel Beverly Hills Mansion, the Qentas townhouse in London, the Stratton Penthouse in London, The Stratton flat in London, the Stratton office building in London.

Aircraft

Bombardier Global 7000 private jet.

A Bombardier Global 5000 jet aircraft.

Najib's explanation

Najib has consistently denied any wrongdoing. He said he did not know if cash laundered through his accounts had ended up buying the assets. He blamed 1MDB's board, saying it was incumbent upon them to tell him if something was wrong.

"I’m not party to the yacht, the paintings ... I’ve never seen those paintings whatsoever,” said Najib.

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"I was not aware of these purchases. This was done without my knowledge. I would never authorise 1MDB funds to be used for any of these items ... I know what’s right and what’s wrong,"

The former prime minister said he was determined to fight the allegations.

"No, I never had plans to leave. Because if I leave, there's presumption of guilt," he said.

"I cannot be a fugitive for the rest of my life. I want to clear my name."

Michael Bachelard is The Age and The Sydney Morning Herald's foreign editor and the investigations editor at The Age. He has worked in Canberra, Melbourne and Jakarta as Indonesia correspondent. He has written two books and won multiple awards for journalism, including the Gold Walkley in 2017.